Transcript for #bitcoin-dev 2017/12/21

echeveria: thanks, I will once I sync, but I actually just learned that I need btcd node to test ln and it's probably offtopic here? I probably came with wrong assumption here, I'll read up a bit more about it.

Hey guys. So, I want to float an idea for a BIP, unless I'm missing something. I proposed a CIP for Counterparty a few months back adding an optional fixed-size payment ID/memo to each transaction, that people could fill with data provided to them by an exchange.

if you have a channel to give somebody an address, you already have a channel to pass memo information. the blockchain is for financial information that's relevant to everybody verifying it, a memo is not relevant.

that's an inefficiency caused by poor design on the exchanges part, there's zero need to make multiple transactions, and reusing addresses does not in any way reduce the number or complexity of transactions.

howdy! technical question for you: How does a full node verify the utxo that a private key has to spend? Can someone point me in the right direction for the technical documentation and/or code for this?

ok too many people talking to me about fee's. what article do we have where both fee's + segwit + lightning + how it actually works is put together? anyone? I am fed up defending the fact that this is how the system is supposed to work